Real Estate

In an article that appeared in National Real Estate Investor (NREI) Online on April 10, author Elaine Misonzhnik describes the recent store closure announcements from Walgreens and Pier 1 as part of a larger pattern of retailers “pursuing portfolio optimization and an omnichannel approach.” While I generally agree with that statement — and with the notion that increasing pressure from online sales growth is contributing to a more competitive brick-and-mortar environment — I was reminded once again of just how different the dynamics behind store closings can be.

Baltimore -- Pandora Jewelry, in collaboration with Walt Disney Parks and Resorts, has opened dedicated shops within two Disney merchandise locations: Uptown Jewelers in Magic Kingdom Park at Walt Disney World Resort in Florida and La Mascarade d'Orleans in Disneyland park in California.

Both locations carry Pandora’s newly released spring 2015 Disney jewelry collection and the Disney Parks collection, as well as the brand’s full assortment of jewelry.

TargetExpress, the retailer’s newest and smallest format store yet, is now open in San Francisco and Berkeley and designed with local city dwellers in mind.

The 12,000-square-foot Berkeley store, a former Walgreens, and the San Francisco location, 18,000 square feet and housed on Bush Street in the financial district, feature a refined and modern concept. With an edgy design, high ceilings and commissioned artwork and custom graphics, MBH architects created a shopping environment that will attract loyal Target customers and on-the-go millennials.

The Tile Shop had good results for its first fiscal quarter of 2015, with double-digit sales growth and steady progress in other key areas. But with the housing market rebounding, one may wonder why sales weren't even stronger.

York, Pa. – The revamped West Manchester Town Center is announcing the latest group of retailers to open there. DSW Inc. and Charming Charlie both opened in April, with GNC and Kay Jewelers expected to open in May.

Ann Taylor Loft GameStop, Kirkland’s and Petco each opened during the winter months. Mall anchors Kohl’s, Regal Cinemas and Wal-Mart, along with Artesian Pools & Spas and USA Optical, have remained open throughout construction.

A. Alfred Taubman, the father of the modern indoor shopping mall, has died. He was 91.

The announcement was made over the weekend by his son, Robert Taubman, the chairman, president and chief executive officer of Taubman Centers Inc. Taubman said his father suffered a heart attack.

New York -- A. Alfred Taubman, a real estate developer who is credited with inventing the modern indoor shopping center, has died. The 91-year-old Taubman died Friday evening of a heart attack at his Bloomfield Hills, Michigan, home.

The announcement was made over the weekend by his son, Robert Taubman, chairman, president and CEO of Taubman Centers Inc., in a statement to employees.

Los Angeles -- Frederick's of Hollywood Group filed Chapter 11 after earlier closing all of its 94 remailing stores and entering into an agreement to sell its online business, inventory and intellectual property to Authentic Brands Group LLC for a reported $22.5 million.

Founded in 1947, the privately held retailer of sexy lingerie cited competition (it faced an especially formidable rival in Victoria’s Secret), decreased mall traffic and leases in its filing. It listed $36.5 million in assets and $106 million in debt.